The Ascott Limited (Ascott), the lodging business unit wholly owned by CapitaLand Investment (CLI), marked the 5th year of its global loyalty platform, Ascott Star Rewards (ASR), with record results from FY 2023. Since its inception in April 2019, ASR has seen substantial growth. Last year, ASR generated its highest-ever room revenue, exceeding SGD 342 million, marking a staggering 63 percent increase from FY 2022. With 350 participating properties spanning 14 brands, ASR members contributed over 60 percent of the repeat stay revenue.
In FY 2023, Ascott witnessed an unprecedented surge with a record one million new ASR members joining. ASR members dominated direct web and mobile app bookings, accounting for over 90 percent. Consequently, booking revenue through this channel soared by more than 40 percent compared to 2022. ASR members also exhibited higher spending habits, with their average transaction amount surpassing non-members by over 50 percent.
The travel preferences of ASR members in 2023 underscored the dominance of pan-Asian travel. Among the top 10 destinations, eight were in Asia. China, Singapore, the USA, Indonesia, and Australia emerged as the top five feeder markets for international stays.
With a strong start in 1Q 2024, witnessing a 25 percent year-on-year increase in member revenue, Ascott anticipates another remarkable year for ASR in 2024.
Tan Bee Leng, Chief Commercial Officer, Ascott said: “Riding on a strong momentum of travel recovery, Ascott saw the highest number of property openings in 2023. This brought about a record number of properties on boarded onto the Ascott Star Rewards programme last year, which included the successful integration of the newly acquired Oakwood portfolio into Ascott’s operational framework. Ascott was able to provide higher value offerings and more choices, across brands and geographies, to our ASR members.
Our pipeline of property openings following several consecutive years of record signings will propel ASR towards further expansion and innovation in the year ahead.”
“With a robust database of ASR members with an Asian stronghold driving an active member rate of over 60 percent, we have a deep appreciation of evolving travel trends and the hospitality landscape, especially in the Asia Pacific region. As Ascott continues its growth upswing globally, we will be distilling insights from member preferences to enhance and refine our offerings. All to ensure that Ascott remains the preferred accommodation of choice; and ASR to not only foster loyalty but to drive substantial business growth too,” Been Leng.
To mark its loyalty program’s 5th anniversary, Ascott is unveiling an updated brand commitment. This includes invitations to exclusive global events, special room rates, free upgrades, access to unique amenities, and bonus loyalty points for free stays or rewards. Ascott aims to redefine travel rewards with these offerings.
